Columbia Sussex purchased 10 acres of oceanfront property for the hotel from Burroughs & Chapin for an undisclosed amount.
Construction cost for the hotel is $50 million or about $122,249 per room, Mike Hanahs, project manager for Columbia Sussex, tells GlobeSt.com.
The hotel is scheduled to open in January 2004. It will have indoor and outdoor spas, a 110-foot water slide and 30,000 sf of meeting space.
Columbia currently owns and manages 55 hotels with a total 15,682 rooms. This will be its first hotel venture in South Carolina.
The 2,200-acre Grande Dunes development has a marina, 18-hole golf course, and 25,000-sf Ocean Club. In addition to single-family homes selling for between $350,000 and $4 million, it will contain the Villa Del Mar multifamily condos.
A timeshare property is planned adjacent the Marriott Hotel. Complete build-out of Grande Dunes is expected to take between 20 and 25 years.
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